The value of the property owned by British Land went up by 12.1%
last year, while the value of its office and residential space
jumped by 18.8%. British Land said this was due to "the strength
of the London market and our actions."

British Land's "Cheesegrater" building in the City — proper name
the Leadenhall Building — smashed rental records in London last
year, with space going for £90 ($142) per square foot. British
Land said today the building is now 84% let.

Home and flat prices are also going nuts, too. British Land made
£259 million ($409 million) selling just 22
apartments at its new Clarges development in Mayfair,
which works out at almost £12 million ($18.95 million) per flat.
The Clarges development also broke Mayfair sales records, selling
at an average of £4,750 ($7,500) per square foot.

British Land doesn't expect the capital's property boom to end
any time soon either, with big developments planned in Shoreditch
and Surrey Quays.

Management said in today's results: "We continue to focus
on our wider investment themes of London and the South East,
targeting areas which will benefit from growth and regeneration
and increasing our exposure to major transport
interchanges."